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If you do not know the difference between patentability and freedom-to-operate (FTO), you are not alone. Most often people mistakenly believe that a patent gives them the right to make, use, and sell an invention. Not so. A patent does not confer the right to do anything but sue others for patent infringement. This is perhaps the single most misunderstood feature of patents, and at the same time one of the most expensive mistakes an innovator can make. Fortunately, it is also avoidable.
In a nutshell, FTO basically works like this. Your competitor invents and patents “A”, and you invent “A+B”. In other words, you have added a component “B” to the pre-existing invention “A”. Let us assume that you can patent A+B because the combination is inventive over “A” alone. Even so, you cannot make, use, or sell A+B without licensing “A” from your competitor.
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On April 27, 2021, Governor DeWine signed S.B. 57 into law, which allows property owners to reduce their 2020 property tax bills by filing a special “COVID-19 Complaint” with the county due by
August 25, 2021. Complaints may be filed beginning July 26, 2021. Additionally, the statutory restriction for filing only one complaint in a 3-year valuation period is suspended, so even property owners who already filed a property valuation complaint within the triennial valuation period can still file a COVID-19 Complaint for 2020. While the opportunity is available to all property owners, businesses in the food and restaurant, retail, hospitality industries and other hard-hit industries will likely be able to reap the largest benefit.
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Most business acquisitions are structured as purchases of assets in order to insulate the buyer from exposure to the liabilities of the seller. While that is generally an effective strategy, there are exceptions and nuances that are explored in this article relative to the purchase of a business located in the State of Ohio.[2]
Sales Tax
Ohio, like most States, imposes a sales tax, with certain exceptions, upon retail sales made in this State.[3] Although it is the buyer of an item subject to sales tax that is obligated to pay the tax, it is the seller, assuming that it has nexus with Ohio, that must collect the tax on the sale and remit it to the State.[4] The Ohio sales tax rate is 5.75%, and the Counties on behalf of themselves and other governmental organizations, can add additional so-called piggy back taxes increasing the tax rate.[5] The piggy back sales tax rate in Cuyahoga County, for example, is 2.75%. Informat
What is a Close Corporation?
Under Ohio law, a “close corporation” is defined as a corporation with a relatively small number of shareholders, whose shares are generally not traded on national securities exchanges or regularly quoted on over-the-counter markets.[1] A close corporation is also frequently characterized by an identity of management and ownership,[2] being comprised of a small number of people who depend on each other for the success of the enterprise.[3] In other words, close corporations will usually bear an unmistakable resemblance to a
partnership, with shareholders considering themselves partners in business while utilizing the advantages that the corporate form has to offer.[4] As a result, it is typical that the shares of a close corporation are rarely bought and sold and, usually, there are restrictions on a shareholder’s ability to transfer their shares.[5] The intent of such restrictions is to preserve the partnership as it stands, limiting the ability
Tax tangle: Small businesses should brace for the possibility of withholdings that follow employees to their homes
JUDY STRINGER
Small businesses may have one more COVID-fueled operational headache coming their way.
Ohio employees currently are regarded as working from their employer s principal place of business for tax purposes, even if they are really working from home.
That s thanks to House Bill 197 passed in March. Among a number of pandemic emergency measures, the bill temporarily suspends the state s 20-day rule, which requires employers to begin withholding tax for a municipality when an employee has been working in that municipality for more than 20 days.